Live Price Coverage: Could Landec Corporation Lose its Strength? The Stock Reaches 52-Week High

October 17, 2016October 17, 2016Michael Collier

The stock of Landec Corporation (NASDAQ:LNDC) hit a new 52-week high and has $38.49 target or 182.00% above today’s $13.65 share price. The 6 months bullish chart indicates low risk for the $383.89 million company. The 1-year high was reported on Oct, 17 by Barchart.com. If the $38.49 price target is reached, the company will be worth $698.68 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 13,145 shares traded hands. Landec Corporation (NASDAQ:LNDC) has risen 34.45% since March 14, 2016 and is uptrending. It has outperformed by 28.83% the S&P500.

Landec Corporation (NASDAQ:LNDC) Ratings Coverage

Out of 4 analysts covering Landec (NASDAQ:LNDC), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Landec has been the topic of 4 analyst reports since November 18, 2015 according to StockzIntelligence Inc. On Monday, January 25 the stock rating was upgraded by Sidoti to “Buy”. Maxim Group initiated Landec Corporation (NASDAQ:LNDC) rating on Tuesday, June 7. Maxim Group has “Buy” rating and $16 price target. Wunderlich initiated the shares of LNDC in a report on Wednesday, November 18 with “Buy” rating. Wedbush initiated Landec Corporation (NASDAQ:LNDC) rating on Friday, July 8. Wedbush has “Neutral” rating and $12 price target.

According to Zacks Investment Research, “Landec Corporation designs, develops, manufactures and sells temperature-activated and other specialty polymer products for a variety of food products, agricultural products, specialty industrial and medical applications. This proprietary polymer technology is the foundation, and a key differentiating advantage, upon which they have built their business.”

Insitutional Activity: The institutional sentiment increased to 1.03 in 2016 Q2. Its up 0.39, from 0.64 in 2016Q1. The ratio improved, as 6 funds sold all Landec Corporation shares owned while 28 reduced positions. 11 funds bought stakes while 24 increased positions. They now own 25.18 million shares or 1.31% more from 24.85 million shares in 2016Q1.
Amer Gp last reported 15,401 shares in the company. Zurcher Kantonalbank (Zurich Cantonalbank) owns 633 shares or 0% of their US portfolio. Perritt Mngmt holds 298,800 shares or 0.85% of its portfolio. Wells Fargo & Company Mn owns 187,320 shares or 0% of their US portfolio. Envestnet Asset Mngmt Inc owns 1,146 shares or 0% of their US portfolio. Foundry Prtn Limited Liability Company last reported 0.16% of its portfolio in the stock. Da Davidson & accumulated 2,000 shares or 0% of the stock. Moreover, Blackrock Fund Advisors has 0% invested in Landec Corporation (NASDAQ:LNDC) for 694,041 shares. Rhumbline Advisers holds 0% or 35,932 shares in its portfolio. Cutter Brokerage accumulated 29,500 shares or 0.14% of the stock. Schwab Charles Investment Mgmt, a California-based fund reported 92,055 shares. Assetmark Inc, a California-based fund reported 6 shares. Heartland Advisors Inc has invested 0.6% of its portfolio in Landec Corporation (NASDAQ:LNDC). Moreover, Royal Bank Of Canada has 0.01% invested in Landec Corporation (NASDAQ:LNDC) for 1.06M shares. Ameritas Inv Partners has 0% invested in the company for 1,500 shares.

Insider Transactions: Since August 5, 2016, the stock had 0 buys, and 2 insider sales for $514,024 net activity. On Friday, August 5 the insider Midyett Ronald Lane sold $84,146. 34,484 Landec Corporation (NASDAQ:LNDC) shares with value of $429,878 were sold by STEELE GARY T.

More news for Landec Corporation (NASDAQ:LNDC) were recently published by: Equitiesfocus.com, which released: “Landec Corporation (NASDAQ:LNDC) PEG Ratio At 2.32” on October 16, 2016. Seekingalpha.com‘s article titled: “Landec Looking Good Into Earnings” and published on September 23, 2016 is yet another important article.

LNDC Company Profile

Landec Corporation, incorporated on August 22, 2007, designs, develops, makes and sells a range of health and wellness products for food and biomaterials markets. The Firm licenses technology applications to partners. The Firm operates through three divisions: Packaged Fresh Vegetables, Food Export and Biomaterials. The Packaged Fresh Vegetables segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables, the majority of which incorporate the BreatheWay specialty packaging for the retail grocery, club store and food services industry. In addition, the Packaged Fresh Vegetables segment sells BreatheWay packaging to partners for fruit and vegetable products. The Food Export segment is engaged in the purchase and sale of whole commodity fruit and vegetable products primarily to Asia. The Biomaterials segment sells products utilizing hyaluronan, a polysaccharide that is distributed in the extracellular matrix of connective tissues in both animals and humans, and non-hyaluronan (HA) products for medical use primarily in the Ophthalmic, Orthopedic and other markets. The Firm has approximately two polymer technology platforms: Intelimer polymers and HA biopolymers. The Firm sells specialty packaged branded Eat Smart and GreenLine and private label fresh-cut vegetables and whole produce to retailers, club stores and foodservice operators primarily in the United States, Canada and Asia through its Apio, Inc. (Apio) subsidiary, and sells HA and non-HA biomaterials through its Lifecore Biomedical, Inc. (Lifecore) subsidiary.